Hong Kong online only banks to spread wings, offering business loans and wealth management

Mox Bank, whose backers include Standard Chartered and local telecoms firm PCCW, says it plans to add credit card, personal loans and wealth management services by mid-2022.

HONG KONG: Hong Kong's new online-only banks plan to venture into business lending and wealth management, seeking more lucrative avenues beyond basic savings accounts and transfer services, senior executives said.

Eight such banks started this year and as of November had taken more than $1 billion in deposits and attracted nearly 300,000 customers.